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Financial News: UK Unemployment Rate Steady At 3.8%

UK Unemployment Rate Steady At 3.8%

07/19/2022 - 02:50:00 (RTTNews)

(RTTNews) - The UK unemployment rate remained unchanged in three months to May, data from the Office for National Statistics showed Tuesday.

The ILO unemployment rate came in at 3.8 percent in three months to May, unchanged from three months to April but down by 0.1 percentage points on the quarter. The rate was forecast to rise to 3.9 percent.

Payrolled employees increased 31,000 on the revised May figures, to a record 29.6 million in June.

In the three months ended May, the average total pay including bonuses grew 6.2 percent from the last year but slower than the expected 6.7 percent increase.

At the same time, growth in regular pay excluding bonuses increased 4.3 percent, in line with expectations.

In June, claimant count decreased 20,000 from the previous month versus the expected fall of 41,200.

In the second quarter, the number of job vacancies rose to 1,294,000. However, the rate of growth in vacancies continued to slow down.

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